SE Asia Stocks - Extend falls; more risk-off selling on China, Greece

BANGKOK, July 9 (Reuters) - Southeast Asian stock markets
mostly fell on Thursday as instability in Greece and China
fuelled more risk-off selling, sending the Indonesian benchmark
to a more-than-14-month low and the Philippine key index to its
lowest level in 2015.
Jakarta's composite index traded down 1.1 percent,
extending its loss for a fourth straight day to the lowest level
since April 29, 2014. Foreign selling hit large-caps, with Bank
Mandiri, the most actively traded, down 1 percent.
Share sales appeared to pick up pace after a downbeat
economic view. The central bank governor said on Wednesday that
Indonesia's economy is not likely to see an acceleration in
growth in the second quarter of this year.
The Philippine index extended its slide into a fifth
straight day, down 0.7 percent at 7,312.46, a level last hit on
Jan. 6. Shares of SM Investments Corp and San Miguel
Corp each dropped almost 2 percent.
Selling in Singapore and Thailand both came
at a smaller pace while Malaysia and Vietnam
staged a mild rebound.
Brokers in the region expect market consolidation in the
near term. Singapore-based NRA Capital said market breadth in
Singapore improved through the session and was slightly positive
while brokers in Bangkok saw external factors dominating
sentiment.
"We expect the SET to adjust down today, as local positives
are outweighed by concerns over the hemorrhaging Chinese stock
market," strategists at broker Asia Wealth Securities wrote in a
report.
An index of Asian shares reversed course and rose on
Thursday as a slide in battered Chinese stocks was stemmed, at
least temporarily, while the safe-haven yen was nudged off highs
scaled against the dollar.
Shares in Indonesian mining firms were top losers on MSCI's
index of Southeast Asia. Adaro Energy
dropped 6.1 percent, the biggest percentage fall, followed by
Bukit Asam which was down 6 percent, the second worst
performer.
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SOUTHEAST ASIAN STOCK MARKETS
Change at 0427 GMT
Market Current Prev Close Pct Move
Singapore 3269.08 3284.99 -0.48
Kuala Lumpur 1701.83 1695.83 +0.35
Bangkok 1466.31 1470.25 -0.27
Jakarta 4816.24 4871.57 -1.14
Manila 7312.46 7363.43 -0.69
Ho Chi Minh 625.62 623.17 +0.39
(Reporting by Viparat Jantraprap; Editing by Sunil Nair)